CPS Announces Third Quarter 2001 Results

Ceramics Process Systems Corp. (CPS) recently announced net income of $205 thousand, or $0.02 per basic and diluted share, on revenue of $1.3 million for the fiscal quarter ended September 29, 2001. These results compare with a net loss of $298 thousand, or $0.02 per basic and diluted share, on revenue of $1.1 million for the fiscal quarter ended September 20, 2000. Grant Bennett, president, said, "Comparing Q3 2001 to the same period a year ago, revenues increased 25%; comparing Q3 to Q2 of this year, revenues increased 57%. We have been focused for some time on broadening our customer base and moving products through qualification into production at our customers and we are beginning to see the benefits of these efforts. The increase in revenues in Q3 from Q2 of this year is the result of 1) certain prototype products which have been in qualification were released for production by our customers in Q3, and, 2 ) several customers who had put orders for existing products on hold earlier this year released orders for shipment beginning in Q3."